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Question 1: (6 Marks) A taxi driver bought a car for $30,000. The annual income/benefit of the driver is $10,000. After 5 rears of driving

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Question 1: (6 Marks) A taxi driver bought a car for $30,000. The annual income/benefit of the driver is $10,000. After 5 rears of driving the car, he would like to sell his car for $15,000 since the car has an annual naintenance cost of $500 for the first year and it is increasing by $200 for every year thereafter. 1. Draw the cash flow diagram. (2 Marks) 2. Find EUAB if the interest rote, i=8%. ( 4 Marks)

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